Shopify, Etsy, Twitter, and more

Elon Musk’s Twitter account is visible through the Twitter logo in this illustration taken on April 25, 2022.

Dado Ruvic | Reuters

Check out the companies making headlines in Thursday’s midday trading:

EPAM systems – Shares were up 10% after the computer software company posted better-than-expected results for the previous quarter. EPAM posted earnings per share of $ 2.49 on revenue of $ 1.17 billion. The company is expected to earn $ 1.79 per share on revenue of $ 1.06 billion, according to a consensus estimate from FactSet.

Reservation holding – Booking’s share price jumped 4% after the company’s quarterly results exceeded analysts’ expectations. The travel company also recorded $ 27 billion in gross bookings for its most recent quarter, a record quarterly amount for bookings. The company also said it is preparing for a busy travel season in the summer.

Shopify – Shares of the ecommerce platform fell 14% after the company predict that revenue growth would be lower in the first half of the year, as she navigates the difficult confrontation of the pandemic era. Shopify also posted adjusted quarterly earnings of 20 cents per share, well below the Refinitiv forecast of 64 cents per share.

Twitter – Stocks gained more than 3% after CNBC’s David Faber reported Elon Musk is expected to serve as Temporary CEO of Twitter for a few months after completing its $ 44 billion acquisition of the social media platform. Regulatory documents released Thursday also showed Musk received an additional $ 7 billion from friends and investors to buy Twitter.

Etsy Shares in the online market fell 16% after the company posted weaker-than-expected guidance for the current quarter due to a decline in disposable income for consumers. Etsy reported earnings that matched expectations and posted better-than-expected revenue.

– Yun Li and Hannah Miao of CNBC and contributed to the reporting.